In the world of entrepreneurship, small businesses play a pivotal role in driving innovation, creating jobs, and stimulating economic growth. However, despite their significance, a staggering 90% of small businesses fail within their initial years. This high failure rate can be attributed to a variety of factors ranging from financial mismanagement to market dynamics. Understanding
When meeting with consulting clients, many professionals naturally feel comfortable getting down to business by heading straight to crunching numbers, going through reports, etc. This approach may seem logical, but it’s not always the best approach for relationship building. What many professionals might consider a confident tone may come across as overbearing or even intimidating
In today’s competitive business landscape, the identification and cultivation of opportunities can be the distinguishing factor between stagnation and growth. Below, we share some guidance for small businesses to help you harness potential avenues for expansion. Continual Education is Paramount To stay ahead in any industry, one must maintain an up-to-date knowledge base. Regularly attending
A non-disclosure agreement (also known as an NDA) is a contract between two parties which outlines confidential information that one party wishes to protect and keep confidential from the other. There are many benefits associated with using an NDA, and in this article, we will discuss some of them. First and foremost, an NDA helps
Strategic drivers of business are forces, both internal and external, that shape an organization’s business strategy. Strategies that fail to adapt to forces such as technological change, competition and regulations are recipes for disaster. By no means comprehensive, below we discuss eight such drivers, to set you on the right path: Organizational Effectiveness: Does the company
Have you ever wondered if there is ONE business formula that is consistent across ALL types of businesses? ONE master reference point that summarizes the KEY DRIVERS OF BUSINESS that can be applied universally across all businesses. A common language that can help a technology business owner learn from a delivery company or a retail
You have landed the opportunity to present your proposal to a prospective new client. You should always have a game-plan and the following preparatory and presentation tips should help tip the scales in your favor. Do the proper research. Learn as much about the prospective client before meeting as you can. “Google is your friend.”
There’s a great line in Alice in Wonderland when the Queen says, “Sometimes I think of 6 impossible things before breakfast.” I think you’ll agree that this has to be creativity at its best! As a small business owner this is an ideal you really need to strive for … but how on earth can
Have you invented the next big thing? Built a better mousetrap? If you invent or discover a new and useful “process, machine, manufacture, or composition thereof” you can apply for a federal patent to protect your invention from being used by others without your permission. Do you remember the first video arcade game, Pong? Invented
“Excellence is never an accident; it is always the result of high intention, sincere effort, intelligent direction, skillful execution and the vision to see obstacles as opportunities.” The above anonymous quote was displayed prominently in an office, where, oddly enough, it seemed to attract very little attention. In any case, it has made enough of
